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no republican has won the white house without it, and bad news for mitt romney: it's tilting toward president obama. but mitt isn't having it, trying to get ohio voters to the right by focusing on the economy. >> with incomes going down, every year, every year going down, down, down. prices of electricity up and health insurance up and the cost of gasoline, having doubled, these are tough times. even for families with jobs. i know what it takes to get this economy going again. cheryl: so what would a tax plan under a romney/ryan administration look like? rich edson breaks it down for us. rich? >> reporter: well, cheryl, democrats call it a giveaway to the rich at the expense of the middle class. republicans say they're wrong, and this morning governor romney defended his tax plan. >> by the way, don't be expecting a huge cut in taxes because i'm also going to lower deductions and exemptions. by bringing rates down, we'll be able to let small businesses keep more of their money to hire more people. >> in the end the details are really up to congress. romney's proposed cutting every t
mentioned president obama and mitt romney hitting the spring state of ohio in duelling events. the president speaking ott bowling green university. governor romney in bedford heights, pushing his economic plan to business leaders there. the polls show the president is holding a lead in the state. cnbc's chief washington correspondent john harwood has the latest on that. >> the 18 electoral votes in ohio are critical. no republicans won the white house without them. mitt romney is in a hole in ohio now. new york times cbs poll out this morning showed him down by 10 percentage points in ohio. other polls show it closer. everybody agrees he's behind. look at the numbers. it tells you about his ohio trouble from this poll when you ask people who's better on the economy, that's mitt romney's signature issue. barack obama by 51 to 45%. when you ask who would favor the rich, 8% say president obama. 58% say mitt romney. that's not good for him. when asked does mitt romney or barack obama understand the problems of people like you, by 59% to 38% people say obama understands, romney does not. that exp
romney square off in denver for the first of three critical debates. president's being prepped in nevada today. and the gop challenger has some ground to make up because a brand-new "washington post"/abc news poll this morning has the president leading by two percentage points among likely voters. it's not unusual for candidates to try to lower expectations in the days leading up to dedebate. republicans have been playing up the president's eloquence, ever since last week. but it seems somebody forgot to tell new jersey governor chris christie, because he was setting the bar high for mr. romney. listen. >> he's going to come in wednesday night, lay out his vision for america, he's going to contrast what his view is with what the president's record is, the president's view for the future and this whole race is going to be turned upside down come thursday morning. >> upside down is what he says. in just a few minutes we're going to be talking about wednesday night's debate and the president's preparations with brad woodhouse, communications director for the democratic national committee. f
some analysts. apple shares are taking a hit. mitt romney fighting back against critics who say he didn't pay his fair share of taxes. we will ask grover norquist, president of americans for tax reform about that very issue in a big interview last night. and union problems are forcing american airlines to cancel over 300 flights over the weekend with more cancellations expected. we have an analyst coming up during this hour of markets now. and it is the top of the hour right now. stocks of course now and every 15 minutes with nicole petallides on the floor of the new york stock exchange. let's talk more and more about apple here. nicole: what's really interesting is what did they actually do? they sold over 5 million iphone 5s this weekend. right? and now they are running out and there are shortages and tim cook is saying being patient. we will get them out as fast as we can. the stock is lower right now. some of the analysts were thinking 8 million would be sold. despite the fact it was more than 5 million, that was a record for apple but didn't meet expectations. over in asia they had
and address the liability issues. for what that is worth. >>> does mitt romney need to get a clearer message out on taxes? lou dobbs weighs in. take a look how the 10-year and 30-year treasury are trading right now. we were listening to ben bernanke a short time ago. you see yield on that, down a basis point. we'll be right back. >> i'm dennis kneale with your fox business brief. u.s. builders trimmed their activity for a second straight month in august. construction spending slipped .7 of 1% to seasonally adjusted $837 billion. >>> honda expanding north american recall to include more than 600,000 accord mid-sized sedans. the recall aims to address a potential power steering fluid leak that could cause a fire under the hood t affects 2003 through 2007 model years equipped with v-6 engines. >>> more of us are getting our news on the go. a new pew research survey more than half of adult americans own a tablet computer or smartphone. one-third to view news as stories and video clips at least once a week the survey found 20% of mobile users said they paid for online subscription in the last yea
dowell. where is the miscommunication, romney's strength as a businessman but he's not connecting with voters when it comes to the economy. connell: we will talk about that. then the secretary of state takes on the global elite. clinton says the rich around the world not just here should pay higher taxes. dagen: the co founder of one of america's greatest companies now wants to become a citizen in another country. connell: top of the hour, stocks now and every 15 minutes beginning with nicole pet petallides -- nicole petallides, let's talk about facebook. nicole: over the weekend with facebook on the cover of barron's, with the down arrow, right? $15, certainly just saying it was still too pricy at the current levels, the stock sold off. here it is now gaining about 1/2%. but still for this week alone, down 9%, just in these two trading days, so it shows you that's still under significant pressure. mark zuckerberg of course time it sold off and it was lower was saying buy, double down, you know, pick it up but someone like barry diller and some insiders say well mark zuckerberg is young, his
reserves of shale gas. and spokesman for mitt romney says the obama administration should formally their china a currency manipulator. semiannual report due on the topic released by treasury in mid october. >> it had stopped for a while and yuan was slowly moving up, but then with all the pressures with their economy, it's kind of turned around. >> when you start messing around with china as a political football on either side, election nearing and -- >> and tensions between china and japan got pretty bad. i heard the lexus is going to be slowing down production because wealthy people don't want to buy a japanese luxury sedan. >> a lot of people that were wealthy aren't quite as wealthy as they used to be. i think trump was always railing about china, too. >> in other news out of washington, the white house is reportedly prepare to go direct federal agencies to develop guidelines for owners of power, water and other infrastructure facilities. it would give the agencies 90 days to propose new regulations and create a new cyber security council at the department of homeland security.
: still ahead, as the debate over mitt romney's taxes shows, not all income is taxed the same. why how much you pay in taxes depends on how you make your money. four years ago this month, the economy was in a freefall. lehman brothers had collapsed and credit markets seized up. a.i.g. was rescued by the federal reserve. the tarp program spent billions bailing out banks, and the federal deposit insurance corporation helped save citigroup. sheila bair was among those making the decisions. she was the chairman of the fdic and has written about the financial crisis in a new book, "bull by the horns. " she join us tonight from the nasdaq. sheila, congratulations on the book. quite a read to relive those days and months four years ago. after all the billions of dollars spent and the millions of homes foreclosed on, you wrote, i wonder if we overreacted. you say the generosity of the response troubles you, why? >> the generosity of the banks. we clearly needed to do something. weeshtd have done more to get the homeowners restructured and clean up the banks balance sheet, by making tm clean up
refs back on the field. >>> candidate clash, president obama and mitt romney nearly cross paths as they campaign in key battleground states. >>> and under the sea. google takes its virtual street view to incredible new depths. captions paid for by nbc-universal television >>> hello, and good morning. welcome to our viewers across the nation, including the pacific time zone. i'm lynn berry. >>> and today we begin with game on. late last night the nfl reached a tentative deal with its referees and that ended this season's lockout. anger over the use of replacement refs spilled over after monday night's contest between the green bay packers and the seattle seahawks. the fill-in refs awarded a game-winning touchdown to seattle, though many felt the packers had made an interception. two days of marathon labor negotiations followed. the refs still have to vote on the deal, but commissioner roger goodell has lifted the lockout just in time for tonight's match-up between the cleveland browns and baltimore ravens. nbc's fred roggin will have few details coming up in just a few minutes in
to receive less from social security to help fix the nation's financial problems? that's what mitt romney is proposing. >> people with higher incomes won't get the same high growth rate in their benefits than people with lower incomes. >> announcer: is it time for americans to pay up for entitlements and will that end up costing him votes in november? plus, which defense companies will get hit the hardest if congress isn't able to avoid billions in spending cuts? details are ahead. and is it possible to solve global poverty and be prosperous at the same time? the head of one venture capitalist thinks so. the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good
in cnbc's exclusive all-american survey today. mitt romney edges the president on who will be better to curb out debt and deficit. but the president is ahead on who's better to get the economy back on track. steve liesman is here with the disconnect. >> we've been puzzling over this all day. i want to show you the results we have from our national survey of 800 americans. take a look on the economy. who would be better over the next four years. first of all, we asked people, are you better or worse with compared to the last four years? no question here. 55 to 27 definitively, things are worse. what about who's better over the next four years? obama beats romney by nine point. that's more than other surveys out there. caution here, weak survey. other surveys more interested in the political side. they survey registered and likely voters. how about jobs? six to two, worse on jobs. who's better? obama wins. the one place where romney wins is as maria said, on the next one, on the deficit. overwhelmingly, people think the deficit is worse than it was four years ago. they're right. they s
-founder and romney supporter tom stemberg. no one understands the swing state of ohio better than senator rob portman. he'll be joining us from cincinnati. but before we get to all this, and believe me, this is a lot to get on today, let's get you up to speed on this morning's other top headlines with andrew. welcome back. >> thanks. we haven't even talked about football, but i hope we get a chance to. china central bank reportedly injecting 57.9 billion into money markets. regulators are struggling to maintain liquidity without the injection. speaking of china, the country's largest listed steel maker has suspended output at a plant as the economy slows and demand weakens. meantime 40% of china's iron ore mines are standing idle as steel prices have crumbled. and loans to firms and households fell more than expected. ecb staying loans to the private sector fell 0.6% from the same month a year ago. italy's borrowing costs falling at a bond auction today. analysts say the auction shows nand for italian government paper remains healthy. and eu regulators are prepare to go charge microsoft for failing t
, a presidential candidate, a mitt romney surrogate and a "squawk box" guest. now he's the new head of the financial services round table. tim pawlenty will be joining us live at #:00 a.m. and the emmy awards, homeland winning for best raw made, modern family with best comedy. before we get to all of this, let's get you up to speed on all of the top stories. >> i was very happy about homeland last night. i know joe was i imagine, too, since we're both -- i think you're a homeland watcher, as well, right? >> no. i've seen the first couple of episodes. i don't -- no. >> jimmy kimmel did a nice job with it. let's get you caught up on the headlines. major supplier, foxconn, suspended production at a factory in china after a brawl by as many as 2,000 employees at a dormitory injured 40 people. the cause of the fight is under investigation. the taiwanese owned company declining to say whether this particular factory is involved in iphone production. apple and foxconn have been working together to improve labor conditions and raise wages there. foxconn makes components also for dell and he
's going on. dagen: what's going on with mitt romney, he can't seem to put together a cohesive discussion about the state of the economy that is resonating with voters. you mentioned in the column that he was talking about trade cheaters and energy independence, which seem wholly removed from what is really happening right here right now on the ground for the american people. >> well, the ads that target china as a trade cheater are aimed at voters in northern ohio and around the great lakes where the auto workers are, but obama has been running his own ads hitting china, so i think they kind of neutralize one another. we had a report this morning that durable goods orders have dropped the most since january 09. orders for motor vehicles and motor vehicle parts dropped 11% in august. whatever obama did to bail out the auto industry, those people working in the industries in the northern ohio are the ones affected by a figure like that. and i don't quite understand why romney isn't going directly at obama's economic record, while obama has been president. connell: because in that part of t
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in china. >>> mitt romney's energy plan for drilling and mining on public lands will create millions of jobs and bring millions for state revenue. so who should be in control, the state or the feds? we'll be discussing that, coming up next. ♪ . i know the name of eight princesses. i'm an expert on softball. and tea parties. i'll have more awkward conversations than i'm equipped for because i'm raising two girls on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. massmutual is owned by our policyholders so they matter most to us. massmutual. we'll help you get there. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. thank you, mr. speaker, uh,ice businmemb
romney/derian tax plan could call to an end to long for a standing tax codes items. rich edson joins me now with who wins and who loses with the proposed plan. rich: democrats claim this will hit the middle class and cut taxes for wealthy americans. a fox business exclusive republican candidate paul ryan says wealthy americans like mitt romney will pay more. >> here's how it works. higher income people can use lots of tax shelters to shelter their income from taxation. close those tax shelters and more income is subject to taxation which allow us to lower tax rates for everybody. rich: some families and businesses will pay more because there will be fewer deductions. others will pay less with lower rates and in theory it balances out. for who is paying more or less we don't have those details from the romney campaign. they refuse to say how much the deductions they have to curb or even many to accomplish their goal. a senate source tells us the supercommittee discussed a rate cut and preliminary assumption show the cost of $1 trillion over ten years. congress has not officially run thos
romney, how much is that playing into what we'ree hearing about this and other issues? >> i don't think what the prime minister did yesterday had any, but i think people seem to discard the importance of personal relations. in a politics and international relations or even national affairs, not love affairs and not all about rumors. at the same time personal relations come and all you have to do to have this brought home to you is remember the very bad relations between president roosevelt in the second world war, a very great extent america's decision to enter the war, to help the united kingdom because of the disdain and distrust between those two leaders. i believe personal relationships to count and i hope whoever the next resident i is, relations between him and the prime minister of israel will be as they always were. warm, trustful, genuine and ones of great strategic alliance. connell: thank you very much for coming into the studio today. appreciate it. thanks. dagen: vast majority of americans believe everyone should pay some federal income tax, but is a fix for that a sure los
to the upcoming election. there's such a divergence of opinion between president obama and senator romney, where they want to take the country and what direction it would be. i think corporations are just holding back cash. i think individuals are holding back cash too. we're seeing less investment in the marketplace. if we're going see the fiscal cliff, which i'm sure we'll talk about throughout the day, but if we're going to see the bush tax cuts roll off, we're talking about dividends going up significantly. right now you cannot get any yield. everyone is chasing yield. you can't get it from the united states government. they'll pay you nothing. people are going say, wait a minute, now i have to pay 36% and i have risk in the marketplace. these are a lot of big issues. >> i know you meant governor romney. >> let me apologize. >> do you think we go to the election and are in standstill mode until then? once we get the clarity of who's in the white house, what's your expectation? >> i do. i don't anticipate a lot. i know people are talking about that we'll see more in the early parts of novembe
to the country with the clear choice. it's a choice election where you decide do you want the romney plan, pro-growth policy, gets people on track, or more of the same four years of president obama, 15% poverty rate, unemployment above 8%, 43 months, 23 million people struggling for work. >> is there something in the polls you have to change about your message? scot walker wants to see more of paul ryan of old on the campaign trail? anything you can specifically -- >> scott is a backer of mine, but what at the final analysis when people see the clear choice, the contrast of the two visions, we'll be fine. you know why? because president obama's not working. he's failed leadership, not tacklinged the debt crisis, crammed through a one size fits all government takeover the health care, taking over the financial services sector with regulations, stifling energy creation with the regulations. he's promising huge tax increases in january. that just gives us more economic malaise. it's the greatest -- >> 47% talk we heard so much about, what is it about the 47%? is it the government? is it a change
is advising the romney campaign. professor, good to see you, are we in a recession? >> no, we're not in a recession. we're not doing well. the eeonomy is doing very badly. but i was in europe last week and said that to some of my european friends who say, by comparison, with conditions in europe you guys are okay. david: but look at this. 1.3%. we keep going down. >> right. >> it was in 2009, it was higher than it was in 2010 and than it is now. we're going in the wrong direction. >> first quarter of the year was 2%. it dropped to 1.3. last time i was on this program i said we would be lucky, very lucky to get to 2% this year. we're not going to get to 2%. david: marti feldstein says no way we'll get 2% growth. >> we'll have very slow growth. we have the terrible unemployment. 8.1% unemployment rate. if the labor force participation rate hadn't fallen --. david: if people hadn't pulled themselves out of the job market. >> we would be back where were a year ago at 9.1. david: why is the economy doing so poorly? >> i think there are a lot of reasons. i think the cloud of tax inc
us know. >> mitt romney's tax rate was 14% and gave $4 million to charity to boot. did he pay his fair share? tax returns hurting the run for the presidency? the senior economic writer steven moore joins us this hour. >> time for stocks as we do every 15 minutes. nicole is standing by. nicole, stocks going to the downside here. >> that's right. last week, by the end of the week, felt like we went nowhere fast, but today is a clear picture. in the red all dang long. dow is one quarter of 1%. the nasdaq down three quarters of 1%. there is pressure here coming along with a stronger dollar. we had a weaker euroowe. the german business confidence numbers weaker again. that does not bode well. as far as the european picture, but at the same time, we have the business activity index in that rose. i know you'll delve into this, but we're talking about apple's iphone5 selling 5 million units this weekend. that blows it out of the park compared to the prior iphone4 release setting its own record by what we saw this weekend, but there were analysts expecting 8 million sales and 5 million is
. >>> and larry kudlow will give us his take on the president and romney's aappearances on "60 minutes" last night. that's coming up in the next hour. >>> first, though, apple selling millions of iphone 5s over the weekend. jon fortt is live in san jose with what the real number is. there's some disagreement about that this morning. >> reporter: there is. 5 million is the number of iphone 5s when one prominent apple analyst had been looking for 6 million to 10 million. that 5 million compares to 5 million a year to go to the 4s. this doesn't count preordered ich 5s that were shipped but that weren't signed for. if your phone arrived over the weekend but is waiting for you to pick it up, that doesn't count. it doesn't count the 2 m phones ordered the first day but that won't get delivered until today or later. it's too soon to gauge exactly what this means for demand. piper jaffray estimated last week that lines has been 30% longer than they were for the 4s. a couple of other tidbits, the check of about 20 stores over the weekend showed that they were short of iphones. so there might have been quit
. but pointless, really. going to lose to the reds one way or another. >>> both president obama and mitt romney will be in ohio today. the story behind that swing state. >>> welcome back. take a look and you'll see that the dow futures are slightly higher. s&p futures up by close to two and a half. this comes after the market ended on its weakest levels of the day yesterday. yesterday was the worst day for the month of september for the dow. it was the worst day in two months for the nasdaq and it was the worst day in three months for the s&p 500. all of that kind of playing out overseas as well. in europe this morning, you are going to see some red arrows. a lot of concern about what's happening as protests pick up in spain, and you see more concerns coming in greece right now about austerity measures. the german dax is down by about 1.5%. the nikkei in japan was down by 2%. >>> in "sporting news," the atlanta braves are on their way to the postseason in. the boft the ninth against the marlins last night, freddy freeman connected and takes it to straight center for a walk-off homer. exciting.
end. and then -- but if romney wins it, you would see them all extended. is there one that would have a better outcome in your view? >> you know, i think there's a -- there's a tension between two different things here. on the one hand, there's a sense that in the very near term with a weak overall economic performance continuing that raising levels of taxes wherever in the distribution may have some negative effects on economic growth. and then there's a harder long-term question, frankly, which is how tax rates on capital gains, on dividends which feed through a somewhat complicated channel by encouraging various kinds of saving activity and ultimately lowering the cost of capital to businesses and encouraging investment, how that translates into long-term economic growth. that is frankly a difficult chain to try to measure in any precise way, and consequently it's harder to be able to trace through the quantitative impacts on growth to follow through on channels for that. >> to follow-up on that, which plan, do you think it's problematic for the economy at this point to have taxes
a chance, we'll bring you any market moving news as we get it. mitt romney campaigns in the philadelphia area today which a republican hasn't won in nearly 25 years. pennsylvania, that is. president obama sticks close to washington today, though, with three fund-raising events. both men were in virginia yesterday catering to the state's strong u.s. military and defense industry presence. mary jo is still with us. is mitt romney in pennsylvania because he thinks there's a chance? how important is winning pennsylvania to him? >> pennsylvania is one of several battleground states in this election and it comes town really to a handful of states including ohio and florida and of course pennsylvania and virginia. the undecided vote so far is very small, but let's keep in mind at this stage ronald reagan in 1980 was running about five points behind jimmy carter. by mid october, he was 13 points behind and yet he won the election by nine points. >> what do you think will be that catalyst for swinging things in mitt romney's favor? >> a strong debate by mitt romney. there are three of them coming
dishonest. somehow, they think that people will buy it. dagen: dishonest is a big word. mitt romney has alluded towards meeting to let congress -- this will be a comprehensive tax reform. >> if you do not tell the american people it darkly where you will get all of this revenue so you can get a tax break to everybody, and you are not preparing the way, not getting a mandate so once you are collected you can actually do something. will they get rid of the health deduction looks like yes or no. will they wipe out the retirement deductions? yes or no. they will not name a single name and i think it is a vindication of how far the republican party has gotten lost. we cannot afford any tax cuts. we have to deal with our deficit. that will mean spending cuts for everybody. dagen: is it a mistake to run on this at all? how can you focus been on, because the issue is growth and jobs. how do you run and talk about that without linking tax policy to it somehow? the opposite would be saying we will get rid of these deductions. some people taxes will go up. that will not win you to white house, wil
, on "closing bell." we'll have also romney's biggest donors ahead on "power lunch," so stay tuned. >> that is a cruel tease, robert. i cannot believe you're going to make us wait for "closing bell" until number one. >> what's great is you're going to be surprised who that is. you'll also have a lot of surprises on the republican list. when i did this reporting, i thought i knew who those donors were, but i didn't. so got to stay tuned for later. >> another great tease. robert, good to see you. >>> billionaire boss. the surprising results of new research into the success and failure rates for venture backed start-ups. stick around to see them. >>> also retailers trying to avoid going the way of dinosaur. which stores are most likely to end up on our "squawk on the street" engaged species list. that's straight ahead. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above,
prediction numbers show wall street spending president obama will easily win reelection. mitt romney, 75% to 25%. wall street is buzzing about the next obama treasury secretary. charlie gasparino -- we will talk about -- charlie: regular raffs screw up all the time too. i like roger goodell. we won't go there. let's talk about wall street. we should check out so people understand these numbers wall street is heavily supported according to the latest data. 75 to 25 with financial institutions and executives going to the latest. that changes when it looks like one side is winning and it looks like obama is winning. the next batch of numbers could be different but as of right now i snapshot. they want romney to win. is a different dynamic. in trade is the prediction. wall street guys and traders betting on who would win. they are betting overwhelmingly that obama is going to win and when you talk to people, and what is coming next. who is going to be primary regulators and the person calling shot? federal reserve, big-name for wall street, the primary regulator and banks and they play a big
standpoint if romney gets elected he takes over in january the bush tax cuts they're dead. so, now we jushave to build that into our model and say that's not going to change. so if obama gets elected they stay in. if romeny gets elected which he won't then he can't necessarily change it so let's just build that those tax cuts are gonna expire at the end of the year period. the one thing that i can tell you that is very troublesome to me as i look at prices, as i look across as i look at hog prices priced for next summer, i look at cattle prices, i look at grain prices and that is that why is it that we ignore the food and energy component of cpi? so, i could be ben bernanke's speech writer because he says the same thing every time he goes in front of the senate is we don't see any particular problem with inflation. really, we don't corn prices just nearly double in three months. so, how is it there is no inflation? >> reporter: do you get any sense that the ethanol mandate is going to change under either administration under obama or if romney would get elected? >> well is sure seems like the
to go from there. > > and they're more inclined to want mitt romney, because they feel he's a better friend to small businesses. > > the survey results from what our customers had to say was that over 60% of them would vote for governor romney as opposed to only around 30, 32% that would vote for president obama. > > what about contractors? you're finding that as full- time employees are dropping, those numbers are dropping, that in fact 1099 people, the contractors, are increasing. > > right, certainly some of what we're seeing, if there are jobs that are being added, or at least keeping us from dropping further, is that we're seeing more independent contractors added as opposed to full-time workers. that creates a challenge for people, because you don't have the comfort of a long-term, stable job. you don't often have the health insurance. you have to pay in for your own social security benefits. it's more challenging for the work force. > > what is the one thing that small businesses would like to see - outside of a new president - to really give them the kickstart they're waiting
's presidential candidates continue to trade bashes over who is tougher on beijing. mitt romney says he'll label it as a china manipulate directory while obama accuses of profiting from jobs september overseas. >>> japan continues to take a hard line in its territorial dispute. let's go to the nikkei following the story for us. >> yes, prime minister noda is sticking to a hard line that japan will not compromise over its territorial issue dispute with china. in a speech to the urn and press conference yesterday, he stressed the islands are an integral part of japan and the issue should be settled under international law. but china reacted by saying china has broken international law. meanwhile the tensions continue to damage china related businesses. cancellations for flights to and from china have reached 40,000 seats. and production cuts are in china. >> stay there for one second. another story that we're following as relations between japan and china aren't going so well, japan may be getting companyier with myanmar. is that right? >> yes. the japanese government is teams up with myanmar's pu
you with us. it's a referendum on taxes but as candidate romney said some months ago down in florida, if 47%, 46% of the households are already paying no taxes, is his message of lower taxes going to resonate with that significant portion of the electorate? >> i actually think that message does resonate. most americans know instinctively higher taxes mean slower growth, fewer jobs. whether you're paying income taxes, everyone has a strong interest in robust economy and a low tax rate is part of that. >> sir, if obama wins re-election, will republicans have to give up on their no tax hike position? >> the question is not really whether they'll give up. no, they don't have to give up. the problem is all the bush tax cuts run out automatically. republicans could vote to extend them unless the president is willing to sign that extension. then they run out. that, by the way, could have happened in 2010. the only reason we were able to avoid it then is the president, i think, wisely decided the economy was too weak and we bargained with him. gave him an extension of unemployment benefits i
, are you looking at different scenarios if the president wins re-election versus a romney win? how are you playing that? >> well, number one, i don't think anybody's going to have a landslide. i think that the possibility of change is going to be very close in terms of the presidency of the house and the senate. it will be interesting. we don't see any gigantic changes. if that's the case, then i think that there will have to be deals made and we'll get back to business. >> all right, david -- >> it's not sustainable. >> right. >> david, how do you disagree with bill? he's got that rosy scenario. you don't. >> i don't. $800 billion bill coming due in the first quarter. it won't be that much. it might be $200 billion. nevertheless, that's going to slow down real u.s. gdp growth from 2% to less than 2% in the first half of 2013. that's going to have an impact on earnings. i might like what's happening on an individual company basis, but this fiscal cliff is simply just not the right remedy for the u.s. economy and profits to grow above expectations. it's all on the back of the fed. we've see
aside mitt romney's claims that he's been weak and brushing aside allies like israel. >> fewer americans are working today than when president obama took office. it doesn't have to be this way if obama would stand up to china. >> that new commercial claims the president allows china to steal american idea. it also claims that president obama is weak when it comes to protecting american's interest in china. new details on when president obama and mitt romney will debate each other. they will take on the economy and other issues in denver colorado on 3rd. the vice presidential ditts will debate on october 11th in kentucky and there will be a town style meeting in new york and the final debate, october 22nd in florida. >>> there is a new book out about rick perry's campaign for president this earlier this year. and the author claims to know why perry made so many mistakes and misstatements during his campaign. one of the most memorable came during a debate in michigan. >> it's three agencies that are gone when i get there, it's commerce sand education and -- what's the third one there -- co
post" abc news poll shows 49% of likely voters favoring the president versus 47% for romney. amongst all registered voters, obama hold as five point lead, but 52% of them are being a stros swi acrosses swing states, they favor the obama. the debate starts wednesday at 8:00 p.m. eastern. >>> and if president obama is reelected, one of the first job may be to find a replacement for geithner. the wall street journal reports the white house chief of staff jack lew and former clinton chief of staff are two top candidates. both budget experts and could play a major role in the looming fiscal cliff. >>> nokia's into another big customer for its mapping software. the "wall street journal" says the company will unveil a deal with oracle today in san francisco. nokia also recently signed deals with groupon and amazon. nokia a got into the map business with it purchase and has been expanding the service. and back to the banks, shares in banco have been suspended. the bank has announced it will report record write downs of 9.3 billion euro this is year and have suspended its dividend this month.
of democratic transitions abroad. campaign surprising and significant economic impact. romney says he will address china cheating on trade and they romney aide confirms to fox business he would officially labeled china a currency manipulator. that is a step the obama administration has decided against taking. the obama administration has applied pressure where necessary filing international trade cases and other products. officials say with the u.s. searching china's currency has appreciated and manufacturers may like this increasingly tough talk on china american importers that rely on chinese-made products sell in the united states. >> john snow under president bush, a currency manipulator, tried to manipulate or at least soften what was happening in china but this is not incumbent or maybe he is right that you can't really tell china what to do. what you looking at? liz: senator chuck schumer sale of spike in the number of truckers crashing into bridgees and overpasses on highways where they don't belong. eight of ten of these crashes was two hundred year is caused by truckers bein
keep working that way into the public discourse. governor romney says president obama has failed to lead the region into a more secure future the president told the united nations that the administration can only go responsibly so far to influence and encourage fledgling democracies. >> just as we can not solve every problem in the world the united states has not and will not seek to dick kate the outcome of democratic transitions abroad. >> speaking at clinton global initiative republican challenger mitt romney said the obama administration is loading control in the middle east. >> a lot of americans, including myself, are developed, excuse me, troubled by developments in the middle east. we somehow feel we're at the mercy of events rather than shaping events. >> there are international disagreements focused on trade with china, with romney charging the administration is soft on chinese trade and currency violationlations. the admin -- administration points out it charged levees on products from china and encourages acting on currency which they say is slowing happening. ashley:
, an obama victory or a romney victory? >> i think it is either president is going get elected i think the market will react the same way. i think the market will still move higher because what we have seen is the economic data that has been coming out of washington has supported this rally that we've seen. job numbers are getting better. housing numbers are getting better. not at the speed in which everybody would like to see it but yes, things are getting better. >> even after the election we still have the overhang of the fiscal cliff. how are traders viewing that threat. >> that's scary it is a date on the calendar that keeps getting pushed but we know is out there and something like that is going to come. but as time gets pushed out there are some really big dark clouds that are there and i think investors will have to figure out who they think is going to be best to get us through there. do you take the-- incumbent president who has been sitting there and part of these issues and part of the solutions that are there, or dow take the wall street type of guy who might be able to co
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